CIVIL LAW REVIEW II

ASSIGNED CASES

2. FIL-ESTATE PROPERTIES, INC AND FIL-ESTATE NETWORK, INC., V.

SPOUSES CONRADO AND MARIA VICTORIA RONQUILLO, G.R. NO.
185798, JANUARY 13, 2014.

Petitioner Fil-Estate Properties, Inc. is the owner and developer of

the Central Park Place Tower while co-petitioner Fil-Estate Network,
Inc. is its authorized marketing agent. Respondent Spouses Conrado
and Maria Victoria Ronquillo purchased from the petitioners and 82-
square condominium unit for a pre-selling contract price of
P5,174,000.00. On 29 August 1997, respondents executed and
signed a reservation application agreement wherein they deposited
P200,000.00 as reservation fee. As agreed upon, respondents paid
the full downpayment of P1,552,200.00 and had been paying the
P63,363.33 monthly amortizations until September 1998.

Upon learning that